Description
Book SynopsisThis timely book is an innovative look at how blockchain technology will transform the structure of social and economic life. The security of blockchain supports the provision and maintenance of reliable databases and the creation of rule-based governance protocols. Leading contributors expertly review the impact of blockchain on existing structures of law, monetary systems, supply chains and business organizations.
Using economic and institutional theory, the book presents a vision for understanding the future development of blockchain technology and outlines the likely path of transformation that blockchain will drive in industry, supply chains and firms. Furthermore, it answers key questions such as: will Bitcoin or another cryptocurrency become the money of the future? How has blockchain already begun transforming economic activity? How can we evaluate the likely trajectory of technological development and application?
This informative book is an excellent resource for academics or professionals interested in a theoretically sound perspective on blockchain. Written in an accessible prose, it provides an introduction for non-experts looking to learn more about the wide-ranging implications of blockchain and cryptocurrency.
Trade Review‘How are blockchain programs, on which cryptocurrencies and other applications are built, shaping the future of firms, markets, and finance? James Caton has assembled a first-rate group of contributors to provide cutting-edge insights into the new technologies and their sometimes surprising implications. Readers of this volume will be a step ahead in understanding what is happening in the evolution of payment systems and in the governance of market institutions.’ -- Lawrence H. White, George Mason University, US
‘The Economics of Blockchain and Cryptocurrency
reveals the profound impact of blockchain, and its growing suite of applications, in reconfiguring the costs of economic exchange. This engaging collection, written by leading experts in the field, represents an essential guide to understanding the operational and institutional implications of blockchain.’ -- Mikayla Novak, Australian National University, Australia
Table of ContentsContents: Introduction to The Economics of Blockchain and Cryptocurrency x James Lee Caton 1 Institutional cryptoeconomics 1 Sinclair Davidson and Jason Potts 2 Can cryptocurrencies become a commonly accepted means of exchange? 13 Nicolás Cachanosky 3 Fiat money, cryptocurrencies and monetary theory 29 David Glasner 4 The value of bitcoin in the year 2141 (and beyond!) 51 Joshua R. Hendrickson and William J. Luther 5 The Silicon Savannah: exploring the promise of cryptocurrency in Africa 69 Scott Burns 6 How blockchain technology can impact agriculture 95 Prithviraj Lakkakula and William W. Wilson 7 Blockchain and the law – legality, law-like characteristics, and legal applications 117 Eric Alston 8 Signals and incentives in blockchain applications 145 Cameron Harwick 9 Trustless architecture and the V-form organization 165 Chris Berg, Sinclair Davidson and Jason Potts 10 On V-form firms: governance, cryptocurrency, and internalization on the blockchain 181 James Lee Caton Index
